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Lot 2081 |
1838 25C No Drapery MS68 PCGS. CAC....
2010 April-May Milwaukee, WI CSNS US Coin Auction #1139
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Bid Information
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It is possible under several circumstances for winning bids to be between increments. It is also possible for an existing bid to be outbid by less than a full increment, sometimes by only $1. This usually happens when two bidders feel that a lot is worth about the same amount, but one places an off-increment bid. Generally when this happens, the Current Bid was much lower than the high secret maximum bid when the off-increment bidder placed his bid.
For example: On Tuesday, you bid $1500 against Bidder A's Maximum Bid of $1000, raising Current Bid to $1100. Then on Thursday, Bidder B, seeing a Current Bid of $1100, guesses the final price and decides to bid $1501, outbidding your Maximum Bid by $1. You would now have to bid $1600 through Heritage Internet bidding or $1550 on Heritage Live (if available for the auction) to possibly win that lot. Next time, maybe you'll bid $1502 and outbid Bidder B by $1!
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What's This?
The owner of this item has indicated that they would sell this item at the amount, although their acceptance of your offer is required before the item can be purchased.Our Auction Results Archives now allow our members to make anonymous offers on items that may not be auctioned again for some time. Please note that the winner of this Heritage auction lot may or may not still own this item and may or may not be willing to sell.
This Make Offer to Owner (MOTO) program is still in the Beta Test phase, and we would appreciate any suggestions to help us improve our system. Please email your suggestions to Webmaster@HA.com.
Heritage retains 10% of the total price as its commission (compared with a 12%-25% Buyer's Premium charged on auction transactions), from which Heritage absorbs all credit card/PayPal costs. This service is free to the buyer (no Buyer's Premium), includes a 7 day return policy, and protects the identity of both parties. Because no Buyer's Premium is charged on Make Offer to Owner transactions, auction consignment discount coupons are invalid.
Our software allows offers and counter-offers, but we suggest making your best offer the first time as most owners will not respond to low offers at all. You will receive a response or no-response email from Heritage within 72 hours.
BP - Buyer's Premium
A Buyer's Premium will be added to each successful bid. For this sale: 15% of the successful bid (minimum $14) per lot. Please see #2 in our Terms & Conditions.Not Sold
This indicates an item that did not sell at auction because it did not receive bids equal to or greater than the reserve (minimum bid) amount set by the consignor, or the opening bid.Opening Bid
The opening bid is the minimum amount required to begin bidding, and is generally a percentage of the low estimate.
| Sold for: |
Not Sold
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| Auction Ended On: | Apr 29, 2010 |
| Item Activity: |
6 Internet/mail/phone bidders
4,356 page views |
Description:
Near-Perfect 1838 No Drapery Quarter, MS68
The Finest Certified
1838 25C No Drapery MS68 PCGS. CAC. R.W. Julian's article "Gobrecht's Seated Liberty," published in the July 2003 edition of the magazine Coins, offers an excellent overview of how the design made its way to the quarter dollar. The Liberty Seated obverse, which Julian credits to a collaboration between engraver Christian Gobrecht and artists Titian Peale and Thomas Sully, was created for the silver dollar, but its use spread quickly to other denominations:"The designs were so well received that [Mint Director Robert] Patterson soon sought permission to improve the looks of the dimes and half dimes by putting the seated figure on the obverse. ... Once the dimes and half dimes had received the seated figure of Liberty, the quarter dollar came next. Gobrecht prepared the dies in the summer of 1838 and in September several trial pieces were sent to Treasury Secretary Levi Woodbury and President Martin Van Buren for their inspection. Approval was soon forthcoming and coinage quickly began. Demand was strong enough that 466,000 pieces were struck by year's end."
Julian further notes that while Gobrecht's obverse design was artistically successful, it created certain technical challenges that Mint Director Patterson decided to rectify. In a different article, "Collectors Clamor for Seated Liberty Quarters" in the February 29, 2000 edition of Numismatic News, Julian describes the change made and how it affects the way today's collectors approach the series:
"The quarter coinage of 1838-1840, without drapery, is increasingly obtained by type collectors because of the distinct difference in the obverse dies. This variety was struck at Philadelphia in 1838 and 1839 but also at New Orleans in 1840; the dies for the latter were sent off before all the changes were in place. Philadelphia coined only the variety with drapery in 1840.
"Sculptor Robert Ball Hughes had been hired by Director Patterson to slightly redesign the silver coinage, especially the Seated Liberty figures; the change of drapery at the elbow is a mark of Hughes' work. The point of the make-over was to reduce the height of the figure so that the coins would strike up better in the available coining presses."
While the 2010 edition of the Guide Book does not specify the No Drapery Seated quarters as a subtype, many collectors do consider them such, among them James W. Lull, previous owner of the present example; he assembled a high-end type collection which included both this 1838 quarter and an 1857 quarter, which would be redundant for type purposes if not for the No Drapery versus Drapery nicety.
The second Julian quote references what may be considered this Superb Gem beauty's only flaw, that its strike is soft at the peripheries; still, in light of the issue's striking weakness being ever-present, this is forgivable. Otherwise, the eye appeal has no need for redemption; the bold silver-white luster on each side shines through occasional splashes of milky patina. Essentially unmarked and frosty, with a small sliver of startling brilliance between the T and E of STATES on the reverse. In a prior appearance, the cataloger mentioned that this MS68 PCGS example had a peer at NGC, a coin graded MS68
; this listing no longer appears in the Census Report, and the logical conclusion is that the MS68 coin was recertified, this time by PCGS; possibly that coin and the present lot are one and the same. Population: 1 in 68, 0 finer (3/10).Ex: James W. Lull Collection (Bowers and Merena, 1/2005), lot 681.(Registry values: P5) (#5391)
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Shipping Description: Coins & Currency (view shipping information)
Guides and Pricing Information:
Previous Prices from Heritage Auctions
| Lot | Date | Grade | Service | Realized |
|---|---|---|---|---|
| Auction 1124, Lot 2338 | Sunday, May 3, 2009 | 68 | PCGS | $195,500.00 |
| View prices realized from this item in other grades (you must be signed in) | ||||
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PLEASE NOTE:
All prices realized reflect the final hammer price PLUS the buyer's premium
in auctions that charge a buyer's premium.
Each item has a notation at the top of the listing indicating whether that lot included a buyer's premium.
All information listed is intended to be as accurate as possible, but errors are possible.
Please use this guide carefully and inform us of any inaccuracies.
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BP - Buyer's Premium
A "Buyer's Premium" is charged in addition to the successful bid according to the rate defined in our terms and conditions.Price Guide*
| Grade | Coin World (Coin Values) |
Numismedia Retail |
Numismedia Wholesale |
Numismedia NGC (nmn) |
Numismedia PCGS (nmp) |
PCGS Price Guide |
PCGS+ |
|---|---|---|---|---|---|---|---|
| 67 | --- | $70,630 | $56,500 | $50,000 | $51,500 | $95,000 | $115,000 |
| 68 | --- | $168,750 | $135,000 | $115,000 | $125,000 | $285,000 | --- |
| 69 | --- | --- | --- | --- | --- | --- | --- |
| *All information listed is intended to be as accurate as possible, but errors are possible. No item may be returned or refused based on this information which is provided as a service to our customers. You should contact each pricing source directly to determine the accuracy of this information. | |||||||
Population Guide
| Service | Grade | Population in this Grade | Population of Higher Grade | Population in All Grades | + | Mintage | Engraver |
|---|---|---|---|---|---|---|---|
| PCGS | Not available from PCGS | 466,000 | Christian Gobrecht | ||||
| NGC | 68 | 0 | 0 | 150 | - | ||
| CAC | 68 | 1 | 0 | 14 | - | ||
| *This information is provided and owned by PCGS. Its display and use are subject to the licensed agreement between PCGS and Heritage Auctions. | |||||||
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We changed the way we image slabbed coins on February 1, 2010, in order to get a more accurate image of the coin. To get the sharper details and more accurate colors we have focused the lighting on the actual coin, which has caused the top of the holders to appear darker and milky. Please disregard the color of the holders when examining the images.
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